Funding arb · Price arb /

NVDA

RWAall NVDA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0208%/8h= −22.8% APRpaid last 24h −0.018%

Price spread now: OKX against Lighter−0.037%7-day average +0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$120.121% of the position

Long on Lighter Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.127%−$13 on $10k

Price spread, last 7 days+0.032%+$3 · spread now −0.037%, 7d avg +0.029%

Together, before fees−0.096%+ Points / potential airdropLighter: Season 3 · farm board−$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and OKX is 0.065% cheaper against Lighter than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.029%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.127% in total (about -6.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter NVDA	227.38	0.0208	pay 0.0026% / 1h	22m 49s	$2.1M	$3.3M	20x
Short	OKX NVDA-USDT-SWAP	227.30	0	get 0.0000% / 8h	22m 49s	$14.4M	$21.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee LighterbpFee OKXbpOrdersPrice spread, now −0.037%Rate

Funding earned: −$43.68
Price spread: −0.037% → +0.029%: −$6.5
Slippage, 4 orders: −$2.11
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$62.29
Costs to cover: 0.121%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; OKX: live order book, 1 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Lighter live order book, 5 min ago	0.20 bp	0.2 bp $0	1.4 bp −$14	7.4 bp −$745	doesn't fit
Sell OKX live order book, 1 min ago	0.22 bp	5.2 bp −$5	6.3 bp −$63	23.1 bp −$2,308	doesn't fit

NVDA on 35 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster NVDAUSDT	0.0000%	8h	227.38	−0.001%	$482K	$587K	20x	as long as short
Bybit NVDAUSDT	0.0000%	8h	227.35	−0.015%	$12.7M	$15.4M	100x	as long as short
OKX NVDA-USDT-SWAPshort	0.0000%	8h	227.30	−0.037%	$14.4M	$21.0M	50x
Gate NVDA_USDT	0.0000%	8h	227.29	−0.041%	$7.2M	$9.7M	100x	as long as short
Variational Omni NVDA	0.0000%	8h	227.33	−0.024%	$3.6M	$1.9M	—	as long as short
GRVT NVDA_USDT_Perp	0.0000%	8h	227.37	−0.006%	$21K	$412K	10x	as long as short
SunX NVDA-USDT	0.0000%	8h	226.87	−0.226%	$2K	$3.9M	20x	as long as short
HTX NVDA-USDT	0.0000%	8h	227.44	+0.025%	$198K	$521K	30x	as long as short
Phemex NVDAUSDT	0.0000%	4h	227.37	−0.006%	$2.2M	$42K	10x	as long as short
Deribit NVDA_USDC-PERPETUAL	+0.0014%	1h	227.30	−0.037%	$49K	$1.4M	10x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps NVDAUSD	+0.0028%	1h	227.20	−0.080%	$118K	$56K	10x	as long as short
Extended NVDA_24_5-USD	+0.0032%	1h	227.22	−0.073%	$535K	$447K	10x	as long as short
Bitget NVDAUSDT	+0.0035%	8h	227.36	−0.010%	$15.5M	$17.7M	100x	as long as short
Binance NVDAUSDT	+0.0039%	8h	227.36	−0.010%	$156.2M	$220.2M	50x	as long as short
Vest NVDA-USD-PERP	+0.0046%	1h	227.48	+0.043%	—	$74K	25x	as long as short
tradeXYZ xyz:NVDA	+0.0050%	1h	227.23	−0.067%	$147.9M	$48.8M	20x	as long as short
Polymarket Perps NVDA-USD	+0.0050%	1h	227.27	−0.050%	$401K	$289K	10x	as long as short
SoDEX NVDA-USD	+0.0050%	1h	227.22	−0.072%	$58K	$20K	10x	as long as short
Ondo Perps NVDA-USD.P	+0.0050%	1h	227.15	−0.102%	$1.6M	$2.1M	15x	as long as short
QFEX NVDA-USD	+0.0060%	1h	227.36	−0.010%	$1.6M	$11.5M	10x	as long as short
Nado NVDA-PERP	+0.0066%	1h	227.27	−0.052%	$483K	$229K	20x	as long as short
Aevo NVDA-PERP	+0.0088%	1h	227.34	−0.017%	—	—	10x	as long as short
Coinbase International NVDA-PERP-INTX	+0.0096%	1h	227.01	−0.164%	$1.3M	$845K	10x	as long as short
Pacifica NVDA	+0.0100%	1h	227.23	−0.068%	$298K	$60K	10x	as long as short
KuCoin NVDAUSDTM	+0.0100%	8h	227.43	+0.021%	$1.6M	$743K	20x	as long as short
ApeX Omni NVDAUSDT	+0.0100%	1h	227.28	−0.045%	$16K	$44K	50x	as long as short
Orderly PERP_NVDA_USDC	+0.0100%	8h	227.30	−0.037%	$36K	$22K	20x	as long as short
Phoenix NVDA	+0.0106%	1h	227.26	−0.054%	$93K	$112K	20x	as long as short
Arcus NVDA-USD	+0.0127%	1h	227.18	−0.089%	$399K	$724K	20x	as long as short
Hotstuff NVDA-PERP	+0.0152%	1h	227.22	−0.072%	$35K	—	20x	as long as short
BloFin NVDA-USDT	+0.0156%	8h	227.38	−0.001%	$718K	$205K	20x	as long as short
Lighter RH NVDA	+0.0200%	1h	227.51	+0.056%	$5.1M	$7.2M	20x	as long as short
Lighter NVDAlong	+0.0208%	1h	227.38	long leg	$2.1M	$3.3M	20x
Injective NVDA/USDC PERP	+0.0220%	1h	227.73	+0.153%	$73K	$137	30x	as long as short
edgeX NVDAUSDC	+0.0271%	4h	227.32	−0.027%	$170K	$1.9M	20x	as long as short